The iShares MSCI Spain Index Fund (EWP) has been one of the top exchange traded fund (ETF) performers of 2006. Economic growth in Europe and Spain is helping the Madrid stock market and the fund. With returns close to 50% and a moderate expense ratio, this fund gives good exposure for a not-too-diverse fund.
After such high returns in 2006, Zoe Van Schyndel of the Motley Fool says don’t be surprised if EWP returns are lower in 2007. Imports have been rising in Spain, creating a larger deficit, the euro is up nearly 30% and the terrorist threat always lurks
with the Basques. Despite this, the bull may have some life left in him.
The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.